Post-trade
CLS calls for operations change
LONDON - Four banks are in discussions to use a warehouse solution by settlement system CLS, in a push to reduce capacity constraints at their back offices brought on by surging ticket volumes.
Parker FX down in December
STAMFORD, CT - The Parker FX index produced a 0.39% loss in December, as managers were hit by increased volatility in the currency markets.
How to get more from your basket
Duncan Farnsworth, director, currency structuring group, at the Royal Bank of Scotland in London, explains how to improve the performance of basket structures
Saxo appoints operations chief
COPENHAGEN - Saxo Bank appointed Tobias Straessle, former chief information officer, to a newly created position as chief operating officer in Copenhagen last Wednesday (February 6).
Three simple steps towards risk immunisation
Société Générale - there but for the grace of God? Justyn Trenner and David Poole, principals of client strategy firm ClientKnowledge in London, offer a short check-list of factors to protect against a similar occurrence
NFA cracks down on AMI
CHICAGO & LONDON - The US National Futures Association (NFA) has set a precedent by ordering one of its brokerage members to only solicit promotional material from companies registered with the Commodity Futures Trading Commission (CFTC) and the NFA.
Fed cuts may lead to Qatari de-peg
DOHA & LONDON - Two Federal Reserve rate cuts totalling 1.25% to 3% in the past two weeks have raised speculation that the Qatari riyal's dollar peg might be about to break.
Nothing beats a good trading scandal
The past week has produced a frenzy of headlines, from the FTSE index hitting seven-year lows and the Federal Reserve's surprise 75 basis point rate cut, to the billions of dollars in writedowns at major dealers. But nothing grabs the attention as much…
Carrying a mixed bag
Analysts polled by FX Week reveal an industry split on the sustainability of resurging risk appetite and the future of yen-based carry trades. Compiled by Wendy Mock
Reduced growth will fuel FX competition
As the market gears up for a fresh year of activity, Patrick Lefler, FX consultant at Wall Street Systems, predicts the key FX market developments in 2008
Citi launches Japan desk in India
NEW DELHI - Citigroup is launching a Japan-focused desk in New Delhi at the end of January, to cater to a growing number of Japanese corporate clients in the country.
CLS product expansion welcomed
CLS's announcement last week that it has begun settling credit derivatives trades demonstrates the industry utility's efforts to reduce the unit cost and total bill for settling forex trades over the system.
Rand Merchant Bank to roll out e-trading
JOHANNESBURG - Rand Merchant Bank (RMB), a division of FirstRand Bank, plans to go live with a multi-asset class electronic trading platform by Q3.
Barclays promotes four FX managing directors
LONDON & FRANKFURT - Barclays Capital's foreign exchange division has started the new year with four new managing directors.
Swedbank goes live with e-FX price stream
STOCKHOLM - Swedbank plans to offer streaming foreign exchange rates over its proprietary platform and multi-bank platform, FXall, by the end of this month.
There's nothing as certain as change
Happy New Year! As we enter 2008, one thing is for certain - the evolution of the foreign exchange industry continues at an unprecedented rate.
Banks brace for algo trading boom in 2008
As the industry continues to digest the credit market's meltdown, foreign exchange trading volumes continue to boom. Representatives of the major FX banks, Credit Suisse, HSBC and Saxo Bank, discuss the main technology trends in e-FX trading to watch in…
Saxo in executive shake-up
COPENHAGEN - Christian Frahm, senior executive director and head of Europe, excluding UK and the Middle East, at Saxo Bank in Copenhagen, left the bank last month.
StanChart first for trade volumes
LONDON - Standard Chartered has been ranked first for trade transaction volumes in Hong Kong, Singapore and the UAE by industry messaging co-operative Swift.
Parker FX Index up 1.4% in October
STAMFORD, CT - The Parker FX Index was up 1.44% in October as managers benefited from a declining US dollar, which was down -1.6% against a basket of G-6 currencies.
CLS launches NDF settlement
LONDON - ABN Amro, Credit Suisse, Fortis, HSBC and the Royal Bank of Scotland became the first settlement banks to go live with non-deliverable for-wards settlement over settlement system CLS last week.
Icap completes Traiana deal
LONDON & NEW YORK - Interdealer broker Icap completed the acquisition of New York-based post-trade technology vendor Traiana on December 4.
Overlay launches EM currency fund
DUBLIN - Overlay Asset Management has launched a specialist fund to invest exclusively in emerging market currencies.